The Banking And Financial Institutions (Development Finance) Regulation, 2021
This section appears to be a heading about the name of the development finance institution in connection with an application.
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- Jurisdiction
- Tanzania
- Instrument
- Regulation
- Citation
- The Banking And Financial Institutions (Development Finance) Regulation, 2021
- Version
- Undated source snapshot
- Language
- en
- Official source
- View official record ↗
Statute overview
About this statute
This section appears to be a heading about the name of the development finance institution in connection with an application. Asks whether you have ever been known by any previous names. It asks whether you have any other names you are also known by. Section heading about a position to be held in a bank or financial institution. Chairman and non-executive directors are asked how much time they will give each month and what contribution they will bring to the development finance institution.
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Provisions of The Banking And Financial Institutions (Development Finance) Regulation, 2021
Showing 29 of 29
- 1 Verify source ↗
Citation
AI-assisted research summary: This section appears to be a heading about the name of the development finance institution in connection with an application.
1. Name of the development finance institution in connection with the application - 5 Verify source ↗
Feasibility Study
AI-assisted research summary: Asks whether you have ever been known by any previous names.
5. Have you been known by any previous name(s)? - 6 Verify source ↗
Contact Person
AI-assisted research summary: It asks whether you have any other names you are also known by.
6. Are there any names by which you are also known as? - 9 Verify source ↗
10. Assurance of Capital
AI-assisted research summary: Section heading about a position to be held in a bank or financial institution.
9. Position to be held in a bank or financial institution - 10 Verify source ↗
Assurance of Capital
AI-assisted research summary: Chairman and non-executive directors are asked how much time they will give each month and what contribution they will bring to the development finance institution.
10. For Chairman and Non-Executive Directors only: (a) How much time do you give, or (if a new appointment) do you anticipate giving in every month, to the business of the development finance institution? (b) What particular contribution do you consider that you bring, or (if new appointment) you will bring, to the work of the license holder? 43 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) - 11 Verify source ↗
12. Grant of Licence
AI-assisted research summary: Provide an identification number below and attach a certified copy of the relevant identity card.
11. National Identity Number and/or National Insurance number and/or Social Security number. Please provide identification number below. Attach a certified copy of the social security identity card and or national insurance identity card aooropriately. tick and - 12 Verify source ↗
Grant of Licence
AI-assisted research summary: The form asks the applicant to state how their nationality was acquired, such as by birth, naturalisation, or marriage.
12. Nationality state how (ies): Please nationality (ies) was acquired, e.g. by birth, naturalisation or marriage. If acquired by naturalisation indicate previous nationality. or marriage, National Identity Number □ National Insurance Number □ Social Security Number □ Birth □ Naturalization □ Marriage □ - 13 Verify source ↗
Commencement of Business
AI-assisted research summary: Attach a certified copy of a Tanzania national identity card or passport pages with personal details.
13. Please attach a certified copy of the Tanzania national identity card or pages of your passport(s) which contain personal information including photograph, nationality, date and place of birth and issuer of the passport; - 14 Verify source ↗
Opening of Business Units
AI-assisted research summary: You must list your official and residential addresses, and any other addresses used in the last 5 years with relevant dates.
14. List below your official and residential addresses. If you have had any other addresses during the last 5 years, indicate them as well as relevant dates. Dates Residential Address Block/Plot number. …………………….. Street. …………………………………... Postal Address …………………………. District/Town ………………………….. City ……………………………………. Country ………………………………. Block/Plot number. …………………….. Street. …………………………………... Postal Address …………………………. District/Town ………………………….. City ……………………………………. Country ………………………………. Block/Plot number. …………………….. Street. …………………………………... Postal Address …………………………. District/Town ………………………….. City ……………………………………. Country ………………………………. Official Address Name of the Organization Block/Plot number. …………………… Street .................................................... . Postal Address ………………………... District/Town …………………………. City …………………………………... Country ………………………………. Name of the Organization Block/Plot number. …………………… Street .................................................... . Postal Address ………………………... District/Town …………………………. City …………………………………... Country ………………………………. Name of the Organization Block/Plot number. …………………… Street .................................................... . Postal Address ………………………... District/Town …………………………. City …………………………………... Country ………………………………. - 15 Verify source ↗
Incorporation
AI-assisted research summary: Provide details of academic qualifications and the year they were obtained, and submit certified true copies of the related certificates.
15. Details of academic qualifications and the year in which they were obtained. (E.g. Certificate, Diploma, Degree, Master's Degree,, etc .... ). Please provide certified true copies of certificates in relation to the qualifications obtained. Qualification Educational Establishment/ A warding Body Year Obtained 44 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) Part IV: Professional Qualifications
Part
Part IV: Professional Qualifications
- 16 Verify source ↗
Board of directors
AI-assisted research summary: The form asks for details of professional qualifications, the year they were obtained, and certified true copies of the related certificates.
16. Details of any professional qualifications and the year in which they were obtained (E.g. ACA, ACCA, ACIB etc ... ). Please provide certified true copies of certificates in relation to the qualifications obtained. Membership No. Professional Qualification Year Obtained Part V: Professional Membership
Part
Part V: Professional Membership
- 17 Verify source ↗
Appointment of Chief Executive Officer
AI-assisted research summary: This section asks for details about current membership in relevant professional bodies, including contact details and year of admission.
17.Details of current membership of any relevant professional bodies, their contact details and year of admission (e.g. Institute of Directors, Institute of Management, etc ... ) Membership No Professional Body's Name and Contact Details Year Admitted Status of membership (e.g. active or inactive) Levels of Memb ership s(e.g. Associ ate, Fellow , Memb er) Part VI: Employment History
Part
Part VI: Employment History
- 18 Verify source ↗
Vetting of board and senior management
AI-assisted research summary: The form asks the person filling it in to list all occupations and employment, starting with the present one, and to write “SELF EMPLOYED” if applicable.
18. Beginning with your present occupation or employment, please list all occupations and employment. If self-employed please indicate, "SELF EMPLOYED" (NB: The Bank may seek references from previous employers.) Name / Address of employer Nature of Position Relevant Percentage 45 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) Business Held Dates of ownership (For self- employed only) Name of the Organization ............ Block/Plot number.. …………….. Street ……………………………. Postal Address …………….……. District/Town …………………... City ……………………………… Country …………………………. Name of the Organization ............ Block/Plot number.. …………….. Street ……………………………. Postal Address …………….……. District/Town …………………... City ……………………………… Country …………………………. Name of the Organization ............ Block/Plot number.. …………….. Street ……………………………. Postal Address …………….……. District/Town …………………... City ……………………………… Country …………………………. Part VII: Directorships
Part
Part VII: Directorships
- 19 Verify source ↗
Declaration by Board members
AI-assisted research summary: List all directorships, starting with your current directorship.
19.Beginning with your present directorship, please list all directorships Company Name Company's nature of business Incorporation Number Country of Registration Relevant Date 46 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) - 20 Verify source ↗
Risk management policies
AI-assisted research summary: If questions 21 to 32 are answered “Yes,” the person must provide full particulars on a separate sheet and identify the question number; disclosed convictions and other facts must be stated, with no time limit on what must be disclosed.
20. Have you ever been involved in any litigation? Yes No If any of the answers to questions 21 to 32 are "Yes", please give full particulars on a separate sheet of paper clearly stating the number of the question to which the details relate. Please note that no time restrictions apply to the matters you are asked to disclose. Any convictions and other facts must be stated. - 21 Verify source ↗
Restrictions on ownership
AI-assisted research summary: It asks whether you or an associated body corporate, partnership, or institution has ever applied for a banking or related business licence in any jurisdiction, whether or not the application succeeded.
21. Have you or any other body corporate, partnership or unincorporated institution to which you are, or have been associated with as a director, senior manager, or officer ever applied for banking business to any jurisdiction for a license or other authority to carry on banking business or other related business (e.g. insurance, mortgage finance, lease finance, development finance, etc.) regardless of whether the application was successful. - 22 Verify source ↗
Minimum capital
AI-assisted research summary: The form asks whether you have ever been convicted of a criminal offence and, if so, to provide details.
22. Have you or at any time been convicted of any criminal offence? If so, give full details of court by which you were convicted, the offence and the penalty imposed and the date of conviction. - 23 Verify source ↗
Deposit of paid up capital
AI-assisted research summary: This section asks whether you, or a related corporate, partnership, or unincorporated institution, have been subject to an investigation by a government, professional, or other regulatory body.
23. Have you or anybody corporate, partnership or unincorporated institution to which you are, or have been associated with as a director, senior manager, or officer been subject of an investigation by a government, professional or other regulatory body? - 24 Verify source ↗
Additional capital requirements
AI-assisted research summary: This section asks whether you have ever been subject to a disciplinary enquiry.
24. Have you ever been subject of a disciplinary enquiry? - 25 Verify source ↗
Transfer of ownership
AI-assisted research summary: This section asks whether you have ever been suspended from any office or asked to resign.
25. Have you ever been suspended from any office or asked to resign? - 26 Verify source ↗
Determination of available capital
AI-assisted research summary: This provision asks whether a person has ever been dismissed from employment or barred from entering a profession or occupation.
26. Have you been dismissed from any office of employment or barred from entry to any profession or occupation? - 27 Verify source ↗
Subordinated debt
AI-assisted research summary: This section asks whether the person has ever been disqualified from acting as a company director or from managing a company, partnership, or unincorporated company.
27. Have you ever been disqualified from acting as a director of a company, or from acting in the management or conduct of the affairs of the company, partnership or unincorporated company? - 28 Verify source ↗
Hybrid instruments or preferred stock
AI-assisted research summary: The provision asks whether a person has been declared bankrupt, made a compromise with creditors, or is currently in bankruptcy proceedings.
28. Have you ever been adjudged bankrupt by a court, or entered into any compromise with creditors, or are you currently the subject of bankruptcy proceedings? Are you aware of any such proceedings pending? 47 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) - 29 Verify source ↗
Capital charge for market risk and operational risk
AI-assisted research summary: Asks whether the person has ever failed to repay a credit obligation as a borrower from a bank, financial institution, or other moneylender.
29. Have you ever failed to honour any credit obligation as borrower of any bank or financial institution or other money lending institution? - 30 Verify source ↗
Computation of capital adequacy ratio
AI-assisted research summary: Asks whether you have failed to satisfy a debt that a court has adjudged due and payable against you as a judgment-debtor.
30. Have you failed to satisfy any debt adjudged due and payable by you as a judgment-debtor under an order of a court? - 31 Verify source ↗
Single borrower's limit
AI-assisted research summary: The text asks whether a person has been civilly liable for fraud, misfeasance, or other misconduct in connection with forming or managing a body corporate, partnership, or unincorporated institution.
31. Have you in connection with the formation or management of any body corporate, partnership or unincorporated institution been adjudged by a court civilly liable for any fraud misfeasance or other misconduct by you towards such a body or company or towards any members thereof? - 32 Verify source ↗
Exceptions to single borrower's limit
AI-assisted research summary: This provision asks whether a body corporate, partnership, or unincorporated institution linked to you as a director, senior manager, or officer has gone through compulsory winding up, a creditor compromise or arrangement, or stopped trading without creditors being fully paid.
32. Has any body corporate, partnership or unincorporated institution with which you were associated as a director, senior manager or officer been compulsory wound up or made any compromise or arrangement with creditors or ceased trading in circumstances where its creditors did not receive or have not yet received full settlement of their claims. - 33 Verify source ↗
Prior approval for equity investments
AI-assisted research summary: This provision asks whether, in carrying out your duties, you would be acting on another person’s directions or instructions.
33. In carrying out your duties, will you be acting on the directions or instruction of any other person? - 34 Verify source ↗
Equity investment in allied undertaking
AI-assisted research summary: An applicant must provide the names, addresses, and occupations of two non-relatives who can vouch for their character, and must tell the Bank about material changes to the information within 21 days in certain cases.
34. State the name, address and occupation of two persons who are not relatives, vouching for your good moral character, integrity and performance of whom the Bank may enquire regarding their character and reputation. 48 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) DECLARATION BY THE APPLICANT l, ……………………………………………………………………….hereby declare the following: l, ………………………………………………………………………hereby declare the following: The content of this declaration is true to the best of my knowledge and belief. I am aware that should any information submitted herein be false, I may be liable to prosecution. I undertake, that for as long as I continue to be a director or executive officer of the institution, I will notify the Bank of any material changes to, or affecting the completeness or accuracy of, the information supplied by myself as soon as possible, but in any event not later than 21 days from the day that the changes come to my attention. I know and understand the content of this declaration. I have/do not have* objections to taking the prescribed oath. I consider the prescribed oath to be binding /not binding* on my conscience. ___________________Signature of Applicant I certify that the above statement was taken by myself and that the deponent has acknowledged that he*/she knows and understands the content of this statement. This statement was sworn to*/affirmed before me and the deponent's signature was placed thereon in my presence at ............................................. on this ................. day of ................... two thousand and .......................................................................... . COMMISSIONER OF OATHS Full Names:…………………………………………………….. Address:………………………………………………………….. *Delete whichever is not applicable Checklist 49 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) Below is a checklist that has been designed to assist applicants to ensure that all of the information required by the Bank has been submitted. Has the Personal Questionnaire form been filled out in full? Certified copy of pages of passport that contain personal information including photograph, nationality, date and place of birth and issuer of the passport or Tanzania national identity card. Certified copy of the social security identity card and or national insurance identity card Copies of stated academic qualifications Copies of stated professional qualifications Copies of stated membership to professional bodies Past Employment references List of Directorships (if applicable) □ □ □ □ □ □ □ □ 50 Banking and Financial Institutions (Development Finance) Banking and Financial Institutions (Development Finance) GN. NO. 766 (Contd.) ________ SIXTH SCHEDULE ________ (Made under Regulation 5(4)) ________ KEY POLICIES The key policies referred to under regulation 5(4) of these Regulations are: S/No. 1 Risk Management Policy Tvpe of Policy Credit Risk Management Policy Liquidity Risk Management Policy 2 3 4 Market Risk Management Policy 5 6 7 8 9 10 11 12 13 14 15 16 Operational Risk Management Policy Strategic Risk Management Policy Compliance Risk Management Policy Human Resource Management Policy Accounting Policy (Including Fixed Assets Policy) Audit Policy (Including Internal and External Audits) Asset/Liability Management Policy (Including Investment Policy) Information and Communication Technology Policy Business Continuity Management Policy Anti-Money Laundering Policy Physical Security Policy Outsourcing Policy (AML) and Combating Financing of Terrorism (CFT) Dar es Salaam, FLORENS J. LUOGA, 17th September, 2021 Governor 51
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